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EGPC assesses proposals international companies for the tendered 15 blocks

By Ahmed Tolba The Egyptian General Petroleum Corporation (EGPC) will be appraising the financial offers proposed by the companies who partook in the most recent bid round issued by the EGPC in the coming 10 days, according to the Executive Director of the EGPC, Hani Dahi. The EGPC has tendered off 15 blocks scattered around …

The Egyptian General Petroleum Corporation (EGPC) will be appraising the financial offers proposed by the companies who partook in the most recent bid round issued by the EGPC in the coming 10 days, according to the Executive Director of the EGPC, Hani Dahi. The EGPC has tendered off 15 blocks scattered around the Red Sea, the Eastern and Western deserts.

The EGPC is currently assessing offers from 30 international companies, according to Dahi, 24 of which have submitted their technical proposals and are awaiting the financial appraisal of the EGPC. The results of the bid round will be announced after Eid Al-Fitr.

Dahi refused to reveal the names of the companies whose technical proposals were accepted. However, he stated that three international companies new to the Egyptian market fall within the accepted 24 proposals. He added that the amount of petroleum products provided to the electricity sector have increased over the agreed upon quota by 55 percent for diesel and 10 percent for oil.

Additionally, he stressed that the petroleum sector constantly strives to supply power plants with the needed petroleum products requested by the Petroleum Ministry at its scheduled time